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| TITLE |
Steel plate market summary in China Nov 17-21 |
| WRITER |
administrator |
DATE |
2008-11-24 10:02:39 |
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Steel plate market summary in China Nov 17-21
2008-11-24
The domestic steel plate price stopped decreasing in the past week, and that in some markets even witnessed an upward trend. Market participants speculated that there will be no much room for the price to further go down, but the still weak demand is neither able to support a sharp increase.
To take the price of Q235B 16mm for example, it increased by RMB50/t last Wednesday, from RMB3,130-3,150/t to RMB3,180-3,200/t, and another increase of RMB50/t happened the second day, to RMB3,230-3,250/t. In Shanghai, that from major mills kept stable at RMB3,500/t for one week, but that from secondary mills climbed by RMB100/t on Tuesday to RMB3,400/t. Guangzhou market experienced a rise of RMB30/t on Thursday to RMB3,510-3,530/t.
The demand showed very slight rebound last week in some markets when the price witnessed the upward trend, as some small retailers would like to build some stock, predicting the price would have no much room to further drop. However, most buyers still held a waiting attitude for clearer market trend.
The inventory in the market reduced gradually, because of the output reduction since this October. According to statistics from Asian Metal, the total stock of steel plate was 310,500 tons in Shanghai, 6,090t smaller than that one week ago.
But most steel mills were still suffering heave stock pressure, and some of them further moved down the EXW price. Urumchi Branch of Jiuquan Steel decreased its by RMB300/t, Handan Steel by RMB150/t. Puyang Steel by RMB350/t, Chunye Steel by RMB100/t, and Feida Steel by RMB100/t.
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